Gold and silver futures dip in Indian markets
Gold prices in India declined on Tuesday, falling by Rs 16 to Rs 1,49,300 per 10 grams in futures trade. The drop was attributed to weaker spot demand, according to analysts. On the Multi Commodity Exchange (MCX), December delivery contracts for gold saw a slight decline of 0.01 per cent, with a business turnover of 1,281 lots.
Globally, gold futures also experienced a decrease, dropping by 0.20 per cent to USD 4,131.19 per ounce in New York. The fall in gold prices reflected broader market trends, though the impact in India was more pronounced due to local demand factors.
Meanwhile, silver futures in India fell by Rs 466 to Rs 2,25,621 per kilogram. The decline was linked to participants reducing their bets. On the MCX, December delivery contracts for silver dropped by 0.21 per cent, with a business turnover of 1,938 lots.